The digital ruble is included in the Tax Code

The digital ruble is a new monetary form that
has appeared relatively recently in the currency space. It is being created in
order to become another means for payments and transfers that will not depend
on the restrictions of banks in the form of commissions and limits.

In the summer of 2023, a law was signed, which reveals the basic concepts necessary for the introduction of a new currency into circulation. Thus, the digital ruble is gradually being introduced into the legislative framework of Russia.

The amendments to the Tax Code recently approved by the Federation Council also integrate a new concept – the “digital ruble account”. A digital ruble account is an account opened under an agreement with the operator of the digital ruble platform, the Central Bank.

When opening and closing a digital account, the platform operator is obliged to inform the tax authorities about this. This account gives them access to debt collection, suspension of digital ruble accounts until confirmation of repayment of debts to the budget. In fact, this innovation will expand the ability of tax authorities to write off debts.